How To Trade Dash
DASH appeared in 2014 and was originally called DarkCoin. The cryptocurrency was created by developers Evan Duffield and Kyle Hagan. Dash is built from the original Bitcoin code, which means it is compatible with numerous systems that have been created to work with Bitcoin. Basically, it is altcoin, which has been forked from the Bitcoin protocol. The new name fully reflects the developer’s aspirations for a breakthrough in the technology of using cryptocurrencies. Dashcoin is an offshoot of the digitalcash cryptocurrency network, better known as dash. Dash is built on a combination of eleven cryptoalgorithms, this combination got its name – X11. The peculiarity of the X11 algorithm is that you can use processors, video cards, and ASIC devices for work. The developers of the new platform focused on the maximum anonymity of the transactions, high network protection against hacker attacks and the convenience of the operating algorithm. Dash provides individual users, merchants, and businesses a better way to pay and get paid. The value of this cryptocurrency in 2017 exceeded the mark of 1 billion dollars. Dash can be purchased on all cryptocurrency exchanges (Binance, Bitstamp, EXMO, WEX and others).
How Dash System Works
Dash is the world’s first cryptocurrency with a two-tier network. At the first level, there are miners who record operations in a log (blockchain), at the second, there are servers that ensure anonymity and speed of operations. In the future, the second tier of the network may provide unique opportunities that other digital currencies will not have.
The Dashcoin cryptocurrency source code includes the latest cryptographic technologies that increase the reliability of the platform and give it other advantages. The developers have implemented CryptoNote into their network, which has reduced the cost of building the network and avoided many mistakes. The «PrivateSend» service allows you to ensure the anonymity of payments by combining several incoming transactions and several outgoing payments. Tracking such operations is a laborious process when the possibility of its implementation has not been proven. «InstantSend» provides instant transaction speed. The main feature of Dash is that this currency is independently regulated and all change processes in it are fully automated. The Dashcoin cryptocurrency has a set of key functions and features that distinguish the system:
- InstantSend service for instant transactions;
- PrivateSend service for additional anonymity of operations;
- A new block appears approximately every 2 and a half minutes;
- The code is completely transparent and open to all network users;
- Regular increase in currency value growth;
- High market capitalization with great prospects;
- Users are independent from creators thanks to CryptoNight.
Main Benefits of Dash CFDs
Financial market specialists are optimistic about the prospects for currency promotion. This is facilitated by the growth in the capitalization of Dash, the owners of large money interested in anonymity prefer Dash to other cryptocurrency systems. Further introduction of Dash into the system of international money transfers and acceptance of payments for goods and services will predetermine the demand for the crypto coin. Trading CFDs on cryptocurrencies allows for leveraged trading and provides higher liquidity. If you are only interested in speculating on Dash price dynamics, the easiest way to do this is to use CFDs on the CFD trading platform without having to buy Dash coins on the exchange.
It is advisable to start trading on the hourly chart, in accordance with the trend movement of the market, while it is advisable to use support and resistance lines and various technical indicators that help establish the direction of the trend. You can trade breakout strategies, they are quite effective. For all beginners, it is recommended to start trading cryptocurrency on a demo account, since this asset is quite specific and has many different features.